The latest figures from the Office of National Statistics (ONS) are good news for interior designers and home improvement companies in the KBB sector, the Consumer Protection Association (CPA) has said.
The ONS data revealed that the average disposable income of UK households was £25,700 in 2014/15 – up by £1,500 on the previous year (2012/13).
This increase, said the CPA, was caused by average earnings rising at a faster pace than inflation and higher rates of employment.
Jeremy Brett (pictured), managing director at the CPA, an organisation that connects consumers with accredited kitchen designers, said: “An increase in employment and higher wages has pushed living standards back above where they were before the financial crisis, meaning that not all consumers are still tightening their belts when it comes to spending.
“With more disposable income, some homeowners will be looking to spend this on ambitious renovation and remodelling projects, such as new kitchens and bathrooms.
“This is good news for designers and home improvement companies as it suggests increased demand for high-end products and services is soon to hit the industry.”
Brett said now is a good time for home improvement professionals to connect with homeowners with tailored messages and deals.